The Economic Development Board Mauritius organised the Mauritius-Dubai Investment and Business Forum in collaboration with Dubai Chambers. The event scheduled on 14th May took place at the Waldorf Astoria Dubai International Financial Centre Hotel and brought together C-level executives from various sectors, including financial services, banking, freeport, real estate, hospitality, ICT and trading sectors. A multisectoral delegation, comprising some 40 operators from Mauritius were present to engage with the business community of Dubai.
The aim of the forum was to showcase Mauritius as an investment destination, a trusted jurisdiction to conduct business, and a business hub for Africa. This event also served to strengthen economic relations with Dubai and the UAE and explore areas of collaboration with key companies in the region.
Mr. Hemraj Ramnial, C.S.K, Chairman of the Economic Development Board Mauritius, stated: “The UAE is our 4th source of origin for our imported products after China, India and South Africa. In 2022, merchandise exports to the UAE amounted to USD 25 million and imports accounted for USD 585 million. Through the Business & Investment Forum, we are looking forward to achieve our objectives of collaboration and attract more projects and investors from Dubai. This forum will also help Dubai-based businesses conduct business in Africa through the Mauritius jurisdiction.”
H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Dubai has developed robust trade and investment relations with countries around the world; we remain committed to enabling the local private sector to benefit from the opportunities arising from these relations and build successful partnerships in promising global markets such as Mauritius.”
His Excellency added: “The Mauritius-Dubai Business & Investment Forum underlines the high degree of confidence in the upcoming Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Mauritius, which is set to unlock new opportunities for mutual growth. We are keen to enhance cooperation between the business communities in Mauritius and Dubai to boost bilateral trade and investments. The representative office of the Economic Development Board of Mauritius, which is hosted at Dubai Chambers’ headquarters and was launched in 2022, also plays a vital role in achieving our shared objectives.”
The forum included presentations on ‘Mauritius – An Attractive Hub for Investment & Business’ by Mr. Arvind Radhakrishna, Strategic Advisor at the EDB and ‘Mauritius – A Trusted International Financial Hub’ by Ms. Jaya Dookun also of the EDB. Additionally, Dubai Chambers delivered an informative presentation on ‘Investment & Business Opportunities in Dubai’.
His Excellency, Mr. Showkutally Soodhun, G.C.S.K, Ambassador of the Republic of Mauritius to the United Arab Emirates and GCC gave a welcome address. He was followed by His Excellency Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The Business Forum was organized in line with the forthcoming Comprehensive Economic Partnership Agreement (CEPA) with the UAE. This agreement will enhance trade in goods, services, economic cooperation, and investment between Mauritius and the UAE, benefiting both economies.
With the CEPA, Mauritius has obtained market access on the UAE market for products such as sugar, processed fish, textiles and apparel, and medical devices. This agreement will further strengthen the trade and investment relations between Mauritius and the UAE for the mutual benefit of both countries.
ABOUT THE ECONOMIC DEVELOPMENT BOARD (EDB) MAURITIUS:
The Economic Development Board (EDB) is the leading Government agency mandated to provide strong institutional support for strategic economic planning and to promote Mauritius as an attractive investment and business centre, a competitive export platform as well as an International Financial Centre (IFC). The EDB is a corporate body set up under the Economic Development Board Act 2017 and operates under the aegis of the Ministry of Finance, Economic Planning & Development.
The overarching objective of the EDB is to ensure greater coherence and effectiveness in implementing policies and draw the vision for the economic development path to be adopted to reach a high-income economy status, through sustainable and inclusive growth, whilst ensuring economic independence. The EDB also acts as the main institution responsible for country branding for investment promotion, to facilitate both inward and outward investment and ensure a conducive business environment.
Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chambers and the formation of three chambers for the emirate, namely, Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under Dubai Chambers.
